Vikas Oberoi, CMD of Mumbai-based listed real estate company Oberoi Realty, welcomed the entry of large corporate giants into Mumbai’s real estate market, saying it reflects the sector’s growing recognition as a mainstream industry and will enhance its credibility.
Vikas Oberoi, CMD of Oberoi Realty welcomed the entry of large corporate giants into Mumbai’s real estate market, saying it reflects the sector’s growing recognition as a mainstream industry and will enhance its credibility. (File Photo)
Drawing parallels with the post-COVID-19 recovery, in the backdrop of geopolitical tensions owing to West Asia crisis, Oberoi said global disruptions often create a ‘spring effect’, unlocking fresh opportunities rather than derailing long-term growth.
Corporate giants are welcome in the real estate sector
According to Oberoi, big corporate giants are welcome in the real estate sector, as they enhance the sector’s reputation. Oberoi said that bigger players may remain expensive, and smaller players will always have their own niche.
“I would say it is great, finally they recognise real estate as an industry, and it will only bring more respect to the business. I would say they (corporate giants) are most welcome, and I would be very happy for them,” Oberoi said.
What has prompted big players to enter the real estate sector?
According to Oberoi, real estate is a great business to be in today, and hence everybody is interested.
“They (corporate giants) realise that the entry barrier in real estate is very low, for them it’s not like entering a cement business or petrochemicals business where they can dominate and have a monopoly. In real estate, in any part of the world, you’ll have very small, large and very large developers, and they all compete in the same space,” Oberoi said.
“Scale (in business) doesn’t bring economies of scale, that is one thing I know about real estate. The bigger you are, the more expensive it becomes for you to build. If today, I want to give quality, my price of giving quality is much higher than somebody who is really very small, he said.
“The bigger you get in terms of your business, it does not connect with the economies of scale. Bigger players will be more expensive, and hence smaller will have their own niche,” Oberoi added.
Big corporates entering the cluster redevelopment space in Mumbai
In May 2026, leading corporate houses and real estate developers, Adani Realty, Lodha Developers, and JSW Realty and Infrastructure, along with a consortium led by Reliance Industries Ltd (RIL), were competing for the city’s largest cluster redevelopment projects floated by MHADA.
In June 2026, Reliance Industries’ real estate arm, Reliance 4IR Realty Development, as part of a consortium, secured the redevelopment rights for the 101-acre Juhu Lane, Gilbert Hill slum cluster in Mumbai’s Andheri, marking the conglomerate’s entry into the city’s slum redevelopment sector.
Three companies had expressed interest in redeveloping more than 100 acres of prime land around Gilbert Hill, including JSW Realty and Infrastructure Private Limited, Reliance 4IR Realty Development Limited, and Shapoorji Pallonji Real Estate Private Limited.
Vedanta Ltd has also announced that it has incorporated a wholly owned company, Vedanta Property Platforms Ltd (VPPL), to foray into the real estate sector.
According to Oberoi, one can go back to the Great Depression in 1920; in the 100 years from 1920 to 2026, many calamities have happened, but ultimately, things have bounced back.
“Everyone thought the world had ended with COVID-19. Whatever COVID-19 did to hold back, it was a spring effect. This war and geopolitical situation, these sorts of system stresses build opportunity to get through,” Oberoi said.
“I would say, if I don’t seize this opportunity, I will never get one. I believe in being brave when others are scared, and being scared when others are brave. So, I feel, we are being bold at the right time,” Oberoi said regarding launching the Gurugram project amid geopolitical volatility.
Oberoi Realty’s Gurugram launch
Oberoi Realty launched its first Delhi-NCR project, Three Sixty North, in Gurugram on June 29, where the company plans to build seven towers with a total investment of around ₹6,000 crore. Spread across 14.8 acres on Golf Course Extension Road in Sector 58, Gurugram, the development draws inspiration from the company’s flagship Three Sixty West project in Mumbai.
The first phase comprises over 800 residences across six towers, while the overall master plan will include seven towers. Homes, priced from ₹18 crore onwards (excluding taxes), will be offered in 3 BHK + Studio, 4 BHK + Studio, duplex and penthouse configurations, the company had said.
The entire project will have a total of seven towers, along with a club and retail space of around 2 lakh sq ft, including cafes and food chains.
